KB Home Badly Misses Street on Top and Bottom Lines in Q3
KB Home posted third quarter earnings of $0.28 a share on revenue of $589 million. Wall Street analysts were looking for $0.40 a share on sales of $647 million.
KB Home posted third quarter earnings of $0.28 a share on revenue of $589 million. Wall Street analysts were looking for $0.40 a share on sales of $647 million. Last year, the homebuilder earned $0.30 a share on $449 million in revenue. As for details, the company delivered 1,793 homes in the third quarter, compared to 1,825 homes delivered in the year-earlier quarter. The overall average selling price rose 9% to $327,000, up from $299,100 for the same period of 2013. The company’s average selling price has now increased on a year-over-year basis for the last 17 quarters. TheStreet's Gregg Greenberg has details from New York.
